Tamil Nadu Pawnbrokers (Amendment) Act, 1992*
| [Tamil Nadu Act No. 51 of 1992] | [14th October, 1992] |
An Act further to amend the Tamil Nadu Pawnbrokers Act, 1943
Be it enacted by the Legislative Assembly of the State of Tamil Nadu in the Forty-third Year of the Republic of Indian as follows:-
* Received the assent of the Governor on the 14th October, 1992 and published in the Tamil Nadu Government Gazette, Extraordinary.
1. Short title and commencement.- (1) This Act may be called the Tamil Nadu Pawnbrokers (Amendment) Act, 1992.
(2) It shall be deemed to have come into force on the 14th day of September, 1992.
2. Amendment of section 6.- In section 6 of the Tamil Nadu Pawnbrokers) Act, 1943 (Tamil Nadu Act XXIII of 1943), (hereinafter referred to as the principal Act), for the proviso to sub-section (1), the following proviso shall be substituted, namely:-
"Provided that the rate of interest to be fixed by the State Government under this sub-section shall not exceed five per cent more than the current bank rate of lending as may be fixed by the Reserve Bank of India, from time to time.".
3. Repeal and saving.- (1) The Tamil Nadu Pawnbrokers (Amendment) Ordinance, 1992 (Tamil Nadu Ordinance ??? 1992) is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under the principal Act, as amended by the said Ordinance, shall be deemed to have been done or taken under the principal Act, as amended by this Act.